Multiple Choice
On January 1, 2014, Wasson Company purchased a delivery vehicle costing $40,000. The vehicle has an estimated 6-year life and a $4,000 residual value. What is the vehicle's book value as of December 31, 2015, assuming Wasson uses the straight-line depreciation method?
A) $12,000.
B) $24,000.
C) $30,000.
D) $28,000.
Correct Answer:
Verified
Correct Answer:
Verified
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